News Tag: Bradford & Bingley
January 11, 2010
Spanish banking giant Santander is to begin its integration of UK High Street banks - Abbey and Bradford & Bingley (B&B).
Santander, which is the second largest banking group in the world after HSBC, became a household name in the UK when it acquired Abbey for £9.5 billion, back in 2004.
In July 2008, it rescued troubled mortgage lender, Alliance ...
Santander begins rebranding of Abbey and B&B
by Kay Murchie
November 20, 2009
Mortgage borrowers with Santander will soon be able to take advantage of a bank current account that attaches no fees to overdrafts, whether authorised or unauthorised.
The Spanish banking giant is launching a “Zero” current account on 11th January 2010 to coincide with its rebranding of Abbey, Bradford & Bingley and Alliance & Leicester to the group name.
Customers going into ...
Santander entices mortgage borrowers with Zero current account
by Gill Montia
October 26, 2009
Nationalised Bradford & Bingley (B&B) is reportedly considering splitting itself into two in order to raise money to repay its £18.4 billion loan from the Financial Services Compensation Scheme (FSCS).
The troubled buy-to-let lender was nationalised over a year ago to prevent it from collapse which led to Spanish bank, Santander, acquiring B&B’s £20 billion savings base and ...
B&B mulling over split into good bank / bad bank
by Kay Murchie
September 23, 2009
Bradford & Bingley (B&B) has launched a new online Notice Saver account paying interest at a variable rate of 3.3% gross/AER.
New and existing B&B customers can open the account with a minimum balance of just £1.
The account includes an instant access option for savers who need to withdraw their money.
Account holders can choose to have interest paid monthly or annually.
"For ...
Bradford & Bingley launches 3.3% Notice Saver
by David Masters
September 15, 2009
Bradford & Bingley has launched a new two-year fixed-rate bond paying 4.35% interest.
The bond requires a minimum deposit of £10,000, and no withdrawals are permitted during the life of the bond.
Savers looking to take advantage of the bond must have internet access as it is only available online.
Reza Attar-Zadeh, director of savings and investments, said: “We are committed to offering ...
Bradford & Bingley launches 2.35% two-year bond
by David Masters
September 2, 2009
Abbey, Alliance & Leicester, and Bradford & Bingley have announced the launch of a new two-year fixed-rate bond paying interest at 4.2%.
Savers can open the bond with an investment of between £10,000 and £2 million.
Any withdrawals incur a penalty of 120 days interest.
The bonds can be opened by visiting any branch of the Santander-owned banks, or online at abbey.com or bradford-bingley.co.uk.
Reza Attar-Zadeh, ...
Santander banks launch 4.2% bond
by David Masters
May 27, 2009
In a move which will cost £12 million, Santander is to re-name its UK High Street banks: Abbey, Alliance & Leicester (A&L) and Bradford & Bingley (B&B).
According to Santander, the move is aimed at saving £180 million from integrating the three banks.
The move would also allow the UK business to use the "expertise and product developments from Santander's global ...
Santander to rebrand Abbey, A&L and B&B
by Kay Murchie
May 7, 2009
Santander's UK banks have launched a new two year fixed-rate bond paying interest at 4.01% gross p.a./AER.
Minimum deposit is £30,000, and maximum deposit is £2 million.
The bond is available in store from branches of Abbey, Bradford & Bingley, and Alliance & Leicester.
Reza Attar-Zadeh, director of savings and investments at Santander UK, said Santander customers benefit from 'the safety and security of one ...
Santander launches 4.01% fixed-rate bond
by David Masters
April 6, 2009
Santander-owned Alliance & Leicester (A&L) has launched a new individual savings account (ISA) designed to attract customers who may have been put off saving by the current climate of low interest rates.
The one-year fixed rate bond ISA pays interest at 3.00% tax free, with the account maturing on 1 May 2010.
Minimum deposit is £500, and transfers from existing ISAs are ...
Alliance & Leicester announces 3% fixed-rate ISA
by David Masters
March 24, 2009
Lord Turner, the Financial Service Authority’s chairman, has said that as a result of increased regulatory control consumers are likely to face higher mortgage rates as costs are passed on.
The FSA is now considering a number of new measures in order to avert any future banking crisis.
The primary consideration is looking to increase the ...
Mortgage interest rates could rise steeply
by Peter Charalambous
February 19, 2009
Figures released by the Office for National Statistics today have revealed that national debt could be pushed up by as much as £1.5 trillion, following the bailouts of Royal Bank of Scotland (RBS) and Lloyds TSB.
Billions of pounds were injected into the two banks last autumn to prevent them from collapse. Furthermore, both Northern Rock and Bradford & Bingley ...
Bank bailouts push national debt up by £1.5tn
by Kay Murchie
November 11, 2008
Spanish bank, Santander, has raised eyebrows today by announcing a €7.2 billion (£5.9 billion) rights issue.
The bank, which recently acquired Alliance & Leicester, said the heavily discounted rights issue will allow it to strengthen its capital and provide an investment opportunity for its shareholders.
However, just last week the bank insisted it had no need to raise capital and the u-turn has, therefore, ...
Santander announces €7.2bn rights issue
by Kay Murchie
October 28, 2008
High Street bank Abbey, which is owned by Santander, has announced a rise of 70% in new deposits as consumers look for a secure place to deposit their savings.
During the first nine months of the year, Abbey said it took £4.3 billion in deposits, compared with £2.5 billion during the same period in 2007.
Antonio Horta-Osorio, Abbey’s ...
Abbey announces surge in new deposits as consumers seek safe haven
by Kay Murchie
October 6, 2008
A crisis might be a time for action rather than questions but with the scale of the problems facing the UK banking sector escalating, one particular question regularly bubbles to the surface.
Is Grupo Santander any more likely to emerge from the credit crisis in sound shape than some of its failing European rivals?
Santander became a household name in the UK when it ...
Santander: White Knight or What?
by Gill Montia
September 29, 2008
The nationalisation of Bradford & Bingley is the most blatant case of legalised bank robbery this country has ever seen, with almost a million shareholders likely to lose a fortune. The whole point of having shareholders in a democracy is that they own the company and can decide its fate between them, including sacking the board or deciding to sell to a new owner if they wish. Yet the Treasury has apparently ...
Bradford & Bingley shareholders ‘robbed’
by Jon KnightThe nationalisation of Bradford & Bingley is the most blatant case of legalised bank robbery this country has ever seen, with almost a million shareholders likely to lose a fortune. The whole point of having shareholders in a democracy is that they own the company and can decide its fate between them, including sacking the board or deciding to sell to a new owner if they wish. Yet the Treasury has apparently ...
Santander to acquire B&B‘s branches and £20bn savings business
by Kay Murchie
September 28, 2008
Troubled buy-to-let lender, Bradford & Bingley (B&B) is set to be nationalised, according to the BBC.
Treasury officials and the Financial Services Authority (FSA) have been holding talks with the lender in an attempt to secure its future.
The bank is to be nationalised using special legislation the Treasury implemented after it took Northern Rock into public ownership in February of this year. ...
Bradford & Bingley to be nationalised
by Kay Murchie
September 25, 2008
Troubled buy-to-let mortgage lender Bradford & Bingley (B&B) has announced its mortgage processing centre in Borehamwood, Hertfordshire, is be closed with the loss of 370 jobs.
The processing centre is to close in the first quarter of 2009.
B&B, which is the UK’s biggest buy-to-let lender, blamed the continuing downturn in the market for mortgages.
The news come just ...
Slump in mortgage demand forces B&B to cut jobs
by Kay Murchie
September 24, 2008
Credit ratings agencies have added to Bradford & Bingley’s (B&B) woes after the lender has been downgraded by Fitch Ratings from BBB+ status to BBB-, only one notch above ‘speculative grade‘, or informally known as ‘junk’.
Meanwhile, Standard & Poor’s downgraded the lender from A-2 to A-3.
Earlier this week, there were reports that the Financial Services Authority (FSA) had been holding ...
B&B heavily downgraded by credit ratings agencies
by Kay Murchie
September 22, 2008
Shares in Bradford & Bingley (B&B) rose this morning amid speculation that the Financial Services Authority (FSA) has been holding talks with potential buyers.
In early trading, shares in the UK’s biggest buy-to-let lender rose 15% to 32p. Shares in B&B have lost over 90% in value over the last year.
Like other banks, B&B sought to raise extra cash after being hit ...
B&B shares rise on takeover speculation
by Kay Murchie
